6,018 Shares in Accenture plc (NYSE:ACN) Purchased by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC purchased a new stake in Accenture plc (NYSE:ACN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,018 shares of the information technology services provider's stock, valued at approximately $1,878,000.

Several other institutional investors have also modified their holdings of ACN. Vanguard Group Inc. increased its position in shares of Accenture by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 60,394,657 shares of the information technology services provider's stock worth $21,246,236,000 after acquiring an additional 392,183 shares during the period. Geode Capital Management LLC increased its holdings in Accenture by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,528,348 shares of the information technology services provider's stock valued at $4,750,021,000 after buying an additional 136,665 shares during the period. Capital Research Global Investors lifted its stake in shares of Accenture by 16.8% during the 4th quarter. Capital Research Global Investors now owns 12,295,748 shares of the information technology services provider's stock worth $4,325,526,000 after purchasing an additional 1,770,024 shares during the last quarter. Wellington Management Group LLP boosted its position in Accenture by 22.8% during the fourth quarter. Wellington Management Group LLP now owns 12,175,518 shares of the information technology services provider's stock valued at $4,283,225,000 after purchasing an additional 2,260,740 shares in the last quarter. Finally, Capital International Investors grew its stake in Accenture by 2.2% in the fourth quarter. Capital International Investors now owns 8,513,140 shares of the information technology services provider's stock valued at $2,994,922,000 after purchasing an additional 181,449 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

Accenture Stock Performance

Shares of Accenture stock traded down $1.26 during trading on Thursday, hitting $315.14. 3,785,329 shares of the company's stock were exchanged, compared to its average volume of 2,969,043. Accenture plc has a 52-week low of $275.01 and a 52-week high of $398.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $197.38 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.23 and a beta of 1.33. The business has a 50-day simple moving average of $303.02 and a 200-day simple moving average of $337.76.

Accenture (NYSE:ACN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The information technology services provider reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.01. The company had revenue of $16.70 billion during the quarter, compared to analysts' expectations of $16.64 billion. Accenture had a return on equity of 26.91% and a net margin of 11.41%. Accenture's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.77 EPS. On average, research analysts forecast that Accenture plc will post 12.73 EPS for the current year.

Accenture Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, April 10th were given a $1.48 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $5.92 annualized dividend and a dividend yield of 1.88%. Accenture's dividend payout ratio (DPR) is presently 48.89%.

Insider Transactions at Accenture

In related news, COO John F. Walsh sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $325.00, for a total transaction of $812,500.00. Following the completion of the sale, the chief operating officer now owns 15,882 shares of the company's stock, valued at approximately $5,161,650. This represents a 13.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julie Spellman Sweet sold 2,284 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $281.63, for a total value of $643,242.92. Following the transaction, the chief executive officer now owns 9,965 shares in the company, valued at approximately $2,806,442.95. This represents a 18.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,516 shares of company stock valued at $2,507,366 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays decreased their price target on shares of Accenture from $415.00 to $390.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Morgan Stanley decreased their target price on shares of Accenture from $380.00 to $372.00 and set an "equal weight" rating for the company in a research report on Monday, March 17th. UBS Group reaffirmed a "buy" rating and issued a $395.00 price target (up from $390.00) on shares of Accenture in a report on Thursday, May 22nd. Royal Bank of Canada lowered their price objective on Accenture from $399.00 to $392.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Finally, Robert W. Baird raised Accenture from a "neutral" rating to an "outperform" rating and set a $390.00 target price on the stock in a research report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Accenture has an average rating of "Moderate Buy" and a consensus target price of $382.14.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.